VF Corporation and Icon Health & Fitness, Inc. have signed a definitive
purchase agreement for the Altra footwear brand. Icon launched
the Altra brand in 2011, which is sold in 55 countries through over 1,600
specialty retail locations and an ecommerce platform.

“The active outdoor and performance sector is a large and attractive
growth space. The addition of the Altra brand brings to VF a unique and
differentiated technical footwear brand and a capability that when applied
across VF’s outdoor footwear, direct-to-consumer and international
platforms will serve as a catalyst for growth,” said Steve Rendle,
Chairman, President and Chief Executive Officer of VF Corporation in a
statement.

On a trailing 12-month basis, Altra generated around 50 million dollars
of revenue. The company said that the transaction is expected to be
completed in April 2018 and the addition of the Altra brand to VF’s
portfolio is expected to be immediately accretive to earnings per share.

"The Altra brand’s truly innovative product and devoted brand loyalists
will serve it well in its new home at VF,” added Scott Watterson, Icon's
Chairman and CEO.